The generational economy: Foundations and applications

The National Transfer Account (NTA) system was developed to improve our understanding of the age or generational dimension of economies at the national or subnational level. Conventional economic accounts and summary measures do not allow us to analyse how people at different stages of the life cycle are influenced by economic events, demographic change or public policy. This is a serious gap in the statistical systems of developing countries where spending on the education and health of youth may be critical to achieving more robust economic growth, for example. It is also a serious gap for developed economies that are faced with rapid population ageing, rising pension and health-care costs, and slower economic growth.

Related Subject(s): Economic and Social Development